UK depository Crest has set up a new Website with Securities Finance Systems in preparation for the January 2003 launch of a stock lending and borrowing market data service.
The new service - dubbed Securities Finance Intelligence - will allow subscribers to view the total outstanding value of securities financing transactions by security, by sector and across the breadth of the UK market.
Using aggregated and anonymous data sourced from CREST, SFS will publish daily information relating to the UK's largest 350 stocks by market capitalisation, Smaller Cap stocks and UK Gilt securities. Historical data will be available going back to mid 1999. The service will include a range of additional data offerings which will enable the user to place the Crest financing values in context.
The service is based upon settlement instructions which carry a specific securities financing flag, relating to trades which are executed through specific Crest settlement messages. These may include a whole range of securities financing transactions such as securities loans and repo's in both equity and debt products. Except in some special technical circumstances, the sum of these deal types can serve as a proxy for short selling data. Short selling data is not currently available in the UK.
The new Web site,
www.securitiesfinanceintelligence.com has been established to provide prospective users with information about, and preliminary examples of, the service. Registered user will gain access to FAQs as well as sample data and graphics.